MTN seeks 20m new subscribers
MTN Group expects to add more than 20m subscribers in the next 12 months, taking its customer base from 164,5m to 184,8m by the end of the year. In 2011, the JSE-listed mobile group, which has operations in 21 countries across Africa and the Middle East, grew its subscriber base by 16,2% to 164,5m.
It expects to add a further 2,9m subscribers in SA (from 22m at the end of December 2011); 4m in Nigeria (its most profitable market where it had 41,6m customers at the end of last year); and 4m in Iran (from 34,7m).
MTN has turned in a strong financial performance for the 2011 financial year, raising its dividend payout ratio to 70% and accelerating the purchase of its own shares to R927m. Share buybacks will continue in 2012 "as and when appropriate", says group president and CEO Sifiso Dabengwa. News of the improved dividend helped send the share price up more than 2% in afternoon trading on the JSE on Wednesday.
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